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On August 10, 2012, President Obama signed the Iran Threat Reduction and Syria Human Rights Act of 2012 (the Act) that significantly tightens sanctions against Iran and companies that help Iran develop its energy resources or advance its nuclear program

Amid the deteriorating diplomatic relationship between the United States and Iran, on February 16, 2012, the U.S. Department of Treasury announced the designation of the Iranian Ministry of Intelligence and Security (MOIS) for its support to terrorist groups, perpetration of human rights abuses against Iranian citizens and its role in supporting the Syrian regime's crackdown against the people of Syria

On January 23, 2012, the U.S. Department of Treasury, pursuant to Executive Order 13382, which prohibits transactions with and freezes the assets of weapons of mass destruction proliferators and their supporters, announced the designation of Bank Tejarat, Iran's third-largest bank for sanctions

On November 20 and 21, 2011, the United States, United Kingdom and Canada announced coordinated sanctions on the Islamic Republic of Iran in response to the recently released International Atomic Energy Agency (IAEA) report detailing Iran's continued development of its nuclear weapons program